New range offers lower rates, flexible fee options, and incentives
Paragon Bank has introduced a range of limited edition five-year fixed rate buy-to-let mortgages, offering various fee structures and rates.
The products are available up to 75% loan-to-value (LTV) and are designed for landlords purchasing or remortgaging properties across England, Scotland, and Wales.
Rates for the limited edition products start at 4.94% with a 3% fee for single self-contained (SSC) properties with energy performance certificate (EPC) ratings of ‘A’ to ‘C’. For SSC properties rated EPC ‘D’ or ‘E’, rates increase by five basis points. Houses in multiple occupation (HMOs) are eligible for rates starting at 5.19% under the 3% fee option.
For landlords seeking alternative fee options, the £3,995 fee product is available at rates beginning at 5.45%. A nil-fee option starts at 5.74% for SSC properties with ‘A’ to ‘C’ EPC ratings.
All products include a £299 application fee, while the 3% fee and £3,995 fee products come with £750 cashback.
Last month, the lender introduced a limited edition range of five-year fixed rate mortgages for properties with up to 65% LTV.
Paragon’s limited edition mortgages are suitable for individual landlords as well as those operating through limited company structures.
James Harrison (pictured), product manager at Paragon Bank, said the new products offer rates that are up to 30 basis points lower than the bank’s core equivalents.
“This will broaden choice for landlords looking to remortgage or add to their portfolios,” he said. “With rates coming down, we’re seeing an increase in the popularity of mortgages with lower and fixed fees.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
